Cheap Home Insurance Quotes by State (2024)

The cost of home insurance varies dramatically across the U.S., with labor expenses, materials costs, natural disasters, and other risks playing into total premiums. But no matter where you are in the country, there’s one reality all homeowners face: Home insurance premiums have risen to unprecedented levels and show no signs of stopping.

A combination of factors — including inflation, rising home prices, higher repair costs, and an influx of natural disasters and severe storms — are driving increases across the country.^[1]

Here’s a look at how to find cheap home insurance in each state and how much you might pay for coverage.

Home insurance rates by state

Home insurance costs vary widely depending on the details of your home, coverage options, and even your personal factors.

The national average cost of homeowners insurance is $2,377 for a home with $300,000 in dwelling coverage and $3,603 for a home with $500,000 in dwelling coverage, according to Insurify data.

Here, you can see how the average annual rates vary in different states across the country.

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States with the most expensive home insurance rates

Homeowners insurance premiums have risen across the country in recent years, partially due to inflation and record-high home market values. Combined with the increased cost of building materials and labor, it simply costs more to repair or rebuild a home than ever before.

With that said, some states have seen an even sharper increase in average premiums, largely due to natural disasters and other risks specific to their location.

Here are the 10 most expensive states for home insurance premiums and how much homeowners pay per month for $300,000 in dwelling coverage in the following states:

• Florida: $916

• Louisiana: $530

• Oklahoma: $454

• Texas: $371

• Mississippi: $359

• Colorado: $339

• Nebraska: $330

• Alabama: $328

• Kansas: $286

• New Mexico: $280

States with the cheapest home insurance rates

Even if average home insurance costs have increased in the last few years, some states still offer affordable coverage for homeowners.

Here are the 10 states with the cheapest home insurance rates and how much homeowners in these states pay per month for $300,000 in dwelling coverage:

• Vermont: $77

• Alaska: $93

• Hawaii: $96

• Nevada: $94

• District of Columbia: $100

• Delaware: $101

• New Hampshire: $102

• Oregon: $103

• New Jersey: $106

• Maine: $110

Do you have to change your home insurance when you move states?

You’ll be required to purchase a new homeowners insurance policy when you move states and change homes. Depending on your insurer and its availability, you may be able to keep the same insurance company and type of coverage and just purchase a new policy to adequately protect your new home.

Some states may require special coverages for high-risk perils, while other coverages might just be a good idea. For example, homeowners in Florida may be required to buy hurricane insurance, while Texas property owners should consider their policy’s hail and wind damage protection.

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Other factors that affect your home insurance rates

Many factors besides your ZIP code play into how much homeowners insurance costs for your property. Some of these can result in higher premiums.

Common factors influencing your rates include the details of your home, such as its:

• Age (older homes often cost more to insure)^[2]

• Size (the square footage of your home)

• Number of rooms

• Condition (both of the home in general and individual aspects, like the roof)

• Upgraded features (like taller doors and ceilings)

• Any special features installed in your home (like a home security system, fire sprinklers, a roof type resistant to fire or high winds, etc.)

• Proximity to safety services (a faster fire or police department response time, or even living closer to a fire hydrant, may lower your premiums)

Insurers will also consider your personalized policy factors. These are within your control and you can adjust them to affect your pricing. They include:

• The type of insurance policy

• Your policy’s coverage limits (the amount of coverage you choose for personal property, your dwelling, personal liability, and more)

• Any added features/riders (such as water damage, hurricane coverage for homes in coastal areas, etc.)

• The deductible you choose

Lastly, insurance companies will look at you, the homeowner. Important personal factors include your:

• Age

• Claims history

• Credit history and credit-based insurance score

• Any money-saving discount(s) you qualify for

The greater the risk you (and your house) pose to home insurance companies, the higher the price you’ll pay for coverage.

Home insurance rates by state FAQs